How to make money from your website

Making money from your website

November 2, 2006
2knowmyself.com making 0.8 USD dollars/day

August 2, 2008
2knowmyself.com making thousands of dollars/month

December, 2010
I made my first million because of my website.

Honestly this wasn’t as easy as it seems. What happened in the first one and half years was some sort of a war. I used to read a lot, make researches and study for my MBA. But in the end I reached some key conclusions that can help any of you to do the same thing and to make good money out of a website.

I did no miracle, I just knew about one of the right ways to make good money out of a website. In this article I will explain one of these concepts that can help you start a successful E-business:

You don't need a new idea to make money out of a website

When I first stepped into the business world I had this weird belief in my mind, the one that says that in order to start a new business you must have a brand new idea that no one thought of before.

This is one of the reasons that keep brilliant people waiting forever without doing anything. For they keep waiting for this new idea that no one thought of before and usually this new idea never comes.

Yes it can be very helpful to have a new idea to start with but still you can make a very successful business by just implementing an old idea in a better way.

I didn’t invent the concept of self help or personal development but all I did was that I presented an old concept in a better way.

Hi5.com and other social networking websites were already there but when Facebook came it become the best social networking website even though it wasn’t the first to implement the idea.

In short you can make money from a website even if you don't have any new fantastic idea.

Bring traffic and worry about the money later

One of the questions i get often from people is that they don't have anything to sell even if they managed to create a website. When it comes to the internet things works differently than the real life.

If you managed to create a high traffic website , no matter what this website does, then you can instantly start generating money out of that site. The simplest way would be placing ads and earning money because of your traffic.

Even if you don't want to create a product or put ads you can still sell millions of the products created by others in exchange for a commission. Most successful sites have what's called an affiliate program, this includes 2knowmyself, where you can sell their products for a commission.

In short you just have to worry about building audience and the money issue will never be a problem once you have succfient audience.

What is your competitive advantage?

Let's suppose that you decided to start a blog about weight loss. The important question you need to ask yourself is: What's the significant thing that your blog has and that other weight loss blogs don't have?

Is it a perfect design?
If that was your answer then you got it totally wrong.
First you need to ask yourself why do people visit weight loss blogs. The short answer is to lose weight and not to check the design.

And so unless your competitive advantage can beat those blogs when it comes to what people really want then you won't succeed. See How i became a millionaire

Avoid all make-money-fast products

If any person or company asked you to buy a certain product to make a large sum of money very quickly then don't but it and if you did don't say i didn't warn you.

All of the make-money-quick products without exceptions were designed to either deceive the buyer or to exploit his hopelessness. The only way to create a successful online website is to do it slowly and surely.

Yes you might get lucky and rise fast but generally there is no way to do it fast and if you found one make sure it's a scam.

Start now

If you are thinking about making money out of a website then you should start now. after all the only loss that could happen is a loss of effort and even this effort wont be lost because you will get lots of experience in exchange for it.

You don't have to wait for a new idea, just find an old one that is implemented poorly then make a one that is better than it.

Making money from your website is not hard at all. you just need to either find a new idea or to implement an old idea in a better way.

Farouk is not only holding several degrees in psychology but he is also an MBA holder, a stock market investor and an entrepreneur. The information you are reading now can dramatically increase your chance of increasing your wealth and becoming rich. If you have any doubts regarding these statements then read what other visitors say about 2knowmyself.com.The book How I did it was written by Farouk and it explains how he managed to make a website that generates thousands of dollars/month in less than 2 years without paying a penny.